Las entidades financieras chinas entran a la adultez

LONDRES - La evolución del sistema financiero chino en los últimos años ha sido extraordinaria. He observado su transformación como miembro del Consejo Asesor Internacional de la Comisión Reguladora Bancaria de China (CRBCh).

En el año 2002, la totalidad de los principales bancos de China estaban inundados de préstamos fallidos o de dudosa recuperación, que en algunos casos ascendían a más del 10% del total de la hoja de balance. Ninguno de los bancos más importantes cumplía siquiera los estándares de Basilea 1 de normas de adecuación de capital. Pocas instituciones financieras de Londres o Nueva York podrían haber nombrado un banco que no fuera el Banco de China, que a menudo se pensaba equivocadamente que era el banco central. Y se habría considerado absurdo sugerir que la Reserva Federal de los Estados Unidos o la autoridad de servicios financieros del Reino Unido podrían aprender algo de las autoridades financieras de China.

Menos de una década después, mucho ha cambiado. El viejo problema de cartera vencida se resolvió, principalmente mediante la creación de empresas de gestión de activos para hacerse cargo de los activos dudosos y la inyección de nuevo capital en los bancos comerciales. Ahora, los préstamos fallidos representan poco más del 1% de los activos. Se ha traído socios extranjeros para la transferencia de conocimientos, y se ha permitido participaciones minoritarias. Las valoraciones actuales sitúan a cuatro bancos chinos entre los diez primeros del mundo en términos de capitalización bursátil. Ahora se están expandiendo al extranjero, fortalecidos por su sólido respaldo de capital.

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